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Buying the place you will call "HOME", Do your Home Work.

By
Services for Real Estate Pros with Rate A Home

Today's buyer's market can lead to many choices and frustrations. Do your home work.

What to do for the initial search:

1. Surf the Internet for any information pertaining to the area you are planning to search.

2. Check all resources including mortgage information, get pre-qualified, along with agents or builders you would like to interview.

3. Talk to friends or family who have gone through the process.

4. Create a wish list of your needs and wants.

5. Interview agents and/or builders, use a rating system to narrow down your choice of the professional. Check their credentials through previous clients, local "Realtor" or Builder Associations, Better Business Bureau.

6. Drive by the potential homes and check the area out before requesting a tour.

7. Utilize a "Walk through Check List" on each home toured to recall what the features were in each home.

8. Don't make a decision of your final home choice based merely on emotions.

9. Utilize a personal (home or condo) buyers rating system of each home toured to narrow down the choices to the top ranked home that meets "both" your needs if you are a buying couple. Choose 5 to 10 features to rate, or the entire menu of features. Many customer service oriented agents will provide you with an online program to Rate A Home.

10. Once you locate your dream home, make a reasonable offer. Low ball offers some times will remove the possibility of ever getting a second chance from the sellers. They are looking for the serious buyer. If you are making an offer quite a bit below the asking fee, let your agent know the reasons. This way they can present your reasons or concerns with the offer.

11. For your protection you may want the contract reviewed by a legal professional.

12. Have the home inspected.

13. Don't buy a home that you will be married to a mortgage, enjoy life outside your new home.

The list could be 12 pages long, researching the resources online will streamline your house hunting.

Picture of Real Estate - Other: Duane Marlink, Rate A Home (Rate A Home)

Comments(8)

Linda Sanderson
Coldwell Banker Solano Pacific - Benicia, CA
Sounds like a very good check list.
Apr 26, 2008 05:41 AM
* Rate A Home
Rate A Home - Saugatuck, MI

Linda, thank you. Use the right tools in the buyers search is the key these days.

Hope your weekend is going well,

Duane

Apr 26, 2008 08:15 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA
These are all great tips, but it can be hard to not be emotional about a purchase.  I think your checklist will definitely help people mind other criteria when their emotions may get the better of them.
Apr 26, 2008 08:34 AM
Renae Bolton
Marketing 4 Realtors - Garfield Heights, OH
I'm your Professional Real Estate Marketing VA!

Hey Duane -

I found that I wasn't quite as emotional about the purchase of our home as I thought I would be until after we signed all the papers.  The actual looking was more business for me.  I had a list of specific things we were looking for and the house just got crossed off the list if it didn't have the major items.  This made things so much easier for us in the long run.

I love your checklist. Maybe you could make it into a nice little document and send it out to buyer prospects.

~Renae

Apr 26, 2008 10:21 AM
* Rate A Home
Rate A Home - Saugatuck, MI
Chris, emotions will always play a role in buying real estate. That's where a rating program can take a couples emotions and streamline the decision into a due diligence approach. It combines each persons emotions into a report that displays which home best meets both the parties (within a couple) emotional needs, eliminating the stronger person from controlling the final choice.
Apr 26, 2008 04:41 PM
* Rate A Home
Rate A Home - Saugatuck, MI

Renae, thanks for stopping by. It sounds like you took the right approach as far as setting emotions aside and looking at the property as an investment.

I'll have to put some thought into the walk through check list idea.

BTW, I was able to get the programmer to set up Kathy, Sue and Lindsey's prizes for the marketing content this past week.

Thanks,

Duane

Apr 26, 2008 04:49 PM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic
All good points my friend. Most buyers have a game plan. At least the ones i've been dealing with.
May 01, 2008 10:16 AM
* Rate A Home
Rate A Home - Saugatuck, MI
Robert, thank you. A "game plan" is only as good as the details they put into it and prepare for a streamlined home search.
May 01, 2008 01:03 PM